Remi Omowaiye, Executive Director of Project Implementation at the Federal Housing Authority, has revealed that the Federal Government’s proposed 50,000 housing scheme will revitalize Nigeria’s economy.

Omowaiye made this statement on Sunday, June 2, 2024, in Modakeke, Osun State, during the fourth edition of ‘Oyetola Hand of Fellowship’, an initiative of Kayode Sowade, a member of the All Progressives Congress (APC).

At the event, 750 people drawn from the community received various sums as business grants, totalling about N3.7m.

The ex-Osun State Commissioner for Works said through the new housing scheme, jobs would be created, adding that dealers in businesses related to real estate would also benefit.

He called on Nigerians to support President Bola Tinubu’s administration, noting that various reforms of the Federal Government were necessary to keep the country on the path of development.

“The reforms by President Bola Tinubu’s administration are necessary. The administration has several plans to rejuvenate the economy. One of the initiatives is the proposed 50,000 new housing scheme of the administration.

“Many countries of the world, including the United States of America, have used investment in real estate to jumpstart their economy. The houses that would be built are going to be ones Nigerians can afford. Jobs will be created through the initiative. Businesses connected to construction will feel positive impacts of the investment,” he said.

Speaking on behalf of the Minister of Marine and Blue Economy, Adegboyega Oyetola, ex-member representing Atakumosa East/West in Osun State House of Assembly, Mr Festus Komolafe, predicted victory for the APC in the Osun 2026 governorship election.

Komolafe urged members of the party not to join the Omoluabi caucus, a group that has ex-Governor Rauf Aregbesola as its grand patron and challenged them to keep working hard to foster unity within the APC fold.

He commended Sowade for remembering the underprivileged in his community, adding that such a gesture should be emulated by other privileged people to lessen the effects of the harsh economy on the populace.

In his remarks, the financier of the initiative, Sowade, who said close to 3,000 residents had benefited, assured that the programme would run till 2026.

“Oyetola Hand of Fellowship was launched in July 2023 and from then, four editions have been held, where people were given cash gifts and food items to ameliorate the effects of fuel subsidy removal,” he said.